Daily Market Highlights (24.03.2023)

MSE Equity Price Index drifts lower on muted activity


The MSE Equity Price Index shed 0.35% to 3,574.160 points as the declines in HSBC and MaltaPost outweighed the gain in MIA. Meanwhile, GO and M&Z remained unchanged with overall trading activity below the €0.1 million level. Download today’s Equity Market Summary.

Most of today’s trading took place in the shares of HSBC Bank Malta plc as the equity moved 3.9% lower to the €0.98 level across seven trades totalling 45,528 shares.

MaltaPost plc fell by 10% to a near two-year low of €0.45 across seven deals totalling 13,106 shares.

In contrast, Malta International Airport plc climbed by 0.9% to the €5.65 level on three trades totalling 1,240 shares. MIA shareholders as at close of trading on 4 April 2023 will be entitled to a final net dividend of €0.12 per share, subject to approval at the upcoming Annual General Meeting scheduled for 10 May 2023.

M&Z plc closed unchanged at the €0.65 level on a single trade of 25,000 shares.

GO plc held the €3.10 level as 340 shares exchanged hands. At the upcoming Annual General Meeting scheduled for 11 May 2023, the Directors of GO will be recommending the payment of a final net dividend of €0.09 per share to all shareholders as at the close of trading on 5 April 2023.

Yesterday, Bank of Valletta plc announced that its Board of Directors is scheduled to meet on Thursday 30 March 2023 to consider and approve the financial statements for the year ended 31 December 2022.

The RF MGS Index advanced by 0.78% to 892.178 points as eurozone yields fell for the second consecutive day with the 10-year German Bund Yield touching an intraday low of 2% on a renewed ‘flight to safety’. The RF MGS Index experienced a volatile week with sharp daily movements and closed 0.7% higher than last week’s level. Issues within the banking sector continue to dominate the headlines today as Deutsche Bank saw an abrupt spike in the cost of insuring against default. Earlier this week, ECB President Christine Lagarde remarked that the ECB is ready to provide liquidity support to eurozone banks if necessary. In her speech in Frankfurt, she also referred to updated economic projections which show that headline inflation is now expected to move lower to the 2.1% level by 2025. Ms Lagarde stated that inflation is likely to have peaked as rate hikes that took place are starting to make an impact, but labour market participation has increased robustly since last year, leading to challenges in the transmission of policy tightening amid strong consumer demand.


This report contains public information only and is not to be construed as investment advice or an offer to buy or sell any securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange.